how to cite this article
share this article


  • citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:3
  • full-text downloads in 30 days:2


article: 3 from 3  
Back back to result list
2016, vol. 63, iss. 2, pp. 211-230
Bank rescues and fiscal policy in the European Union during the great recession
Department of Applied Economics V, University of the Basque Country UPV/EHU, Spain,,,
FESSUD - Financialisation, economy, society and sustainable development (EU-FP7 - 266800)

The outbreak of the economic and financial crisis in 2008, the socalled Great Recession, has made that many European Union countries have made massive interventions in their banking and financial systems. These interventions have had a considerable impact in the public finances of these countries. The aim of the paper is to analyze the impact on the national public budgets of the measures of public support to problem financial institutions carried out between the years 2008 and 2013, and to study how this budgetary impact has affected to the fiscal imbalances and to the strategies of fiscal impulse and consolidation implemented along these years.
Baldacci, E., Gupta, S., Mulas-Granados, C. (2012) Reassessing the fiscal mix for successful debt reduction. Economic Policy, 27(71): 365-406
Bi, H., Leeper, E.M., Leith, C. (2013) Uncertain Fiscal Consolidations. Economic Journal, 123(566): F31-F63
Callegari, G., Melina, G., Batini, N. (2012) Successful Austerity in the United States, Europe and Japan. IMF Working Papers, 12(190): 1
de Cos, P.H., Moral-Benito, E. (2013) Fiscal Consolidations and Economic Growth. Fiscal Studies, 34(4): 491-515
Eurostat (2015) Eurostat supplementary table for the financial crisis: Background note (October 2015). OCT-2015-final.pdf
Ferreiro, J., del Valle, M.G., Gomez, C. (2012) Similarities and Differences in the Composition of Public Expenditures in the European Union. Journal of Economic Issues, 46(3): 633-660
Ferreiro, J., García-del-Valle, M. T., Gómez, C. (2013) An Analysis of the Convergence of the Composition of Public Expenditures in European Union Countries. American Journal of Economics and Sociology, 72(4): 799-825
Ferreiro, J., Gómez, C., Serrano, F. (2013) Mistakes in the fiscal policy in Spain before the crisis. Panoeconomicus, vol. 60, br. 5, str. 577-592
Ferreiro, J., García-del-Valle, M. T., Gómez, C. (2010) Social preferences and fiscal policies: an analysis of the composition of public expenditures in the European Union. Journal of Post Keynesian Economics, 32(3): 347-370
Ferreiro, J., Gómez, C., Serrano, F. (2014) Conditions for a Sustainable Counter-Cyclical Fiscal Policy: The Case of Spain. Journal of Economic Issues, 48(2): 341-348
Ferreiro, J., Gálvez, C., González, A. (2015) Fiscal policies in the European Union during the crisis. Panoeconomicus, vol. 62, br. 2, str. 131-155
Foresti, P., Marani, U. (2014) Expansionary Fiscal Consolidations: Theoretical Underpinnings and their Implications for the Eurozone. Contributions to Political Economy, 33(1): 19-33
Hagemann, R. (2012) Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation?. in: OECD Economics Department Working Papers, 937
International Monetary Fund (IMF) (2013) Reassessing the role and modalities of fiscal policy in advanced economies. International Monetary Fund Policy Paper, September 17
Jesús, F., Carlos, C.A., Gómez, C. (2014) Convergence of public expenditures and implementation of a single model of public finances in the European Union. Revista de Economía Mundial, 37: 75-102
Mauro, P., Villafuerte, M. (2012) Past Fiscal Adjustments: Lessons from Failures and Successes. IMF Economic Review, 61(2): 379-404
Molnar, M. (2012) Fiscal Consolidation: Part 5. What Factors Determine the Success of Consolidation Efforts?. in: OECD Economics Department Working Papers, 936
Nicolas, C. (2013) The composition of fiscal adjustments: Some principles. Economic and Financial Affairs, Economic Briefs 23
Sutherland, D., Merola, R., Hoeller, P. (2012) Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?. in: OECD Economics Department Working Papers, 932
Truger, A. (2015) The fiscal compact, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the euro area. Panoeconomicus, vol. 62, br. 2, str. 157-175


article language: English
document type: Original Scientific Paper
DOI: 10.2298/pan1602211f
published in SCIndeks: 24/05/2016
Creative Commons License 4.0

Related records